Who has to be notified during probate, and what happens if the deadline to notify beneficiaries or heirs has already passed? nc

Who has to be notified during probate, and what happens if the deadline to notify beneficiaries or heirs has already passed? – North Carolina Short Answer In North Carolina probate, the personal representative (executor) generally must (1) give the required public notice to creditors and (2) provide required notices and filings with the Clerk of…

What are the warning signs that an estate is being mismanaged or assets are being hidden? nc

What are the warning signs that an estate is being mismanaged or assets are being hidden? – North Carolina Short Answer In North Carolina, common warning signs of estate mismanagement include missing or delayed inventories/accountings, unexplained withdrawals or sales, commingling estate money with personal funds, and a personal representative who refuses to share basic information.…

What happens if the remainder beneficiaries want to force a sale while the surviving spouse has a life estate? nc

What happens if the remainder beneficiaries want to force a sale while the surviving spouse has a life estate? – North Carolina Short Answer In North Carolina, remainder beneficiaries usually cannot force the surviving spouse (the life tenant) to move out just because they want to sell. However, the remainder beneficiaries can file a partition…

How do we decide whether to sell all of the inherited land or only enough to cover the estate’s debts and expenses? nc

How do we decide whether to sell all of the inherited land or only enough to cover the estate’s debts and expenses? – North Carolina Short Answer In North Carolina, the personal representative (executor/administrator) decides what estate assets to use to pay valid debts, taxes, and administration expenses, and the decision should be based on…

Do beneficiaries have any right to stop or delay a sale if the executor is rushing to accept an offer or won’t communicate with the family? nc

Do beneficiaries have any right to stop or delay a sale if the executor is rushing to accept an offer or won’t communicate with the family? – North Carolina Short Answer In North Carolina, beneficiaries usually do not have to “sign off” on an executor’s sale of estate property, and an executor can often move…

What happens to sale proceeds from corporate property when there is a dispute over who owns a minority interest—can the company distribute the money to someone else? nc

What happens to sale proceeds from corporate property when there is a dispute over who owns a minority interest—can the company distribute the money to someone else? – North Carolina Short Answer In North Carolina, when a closely held corporation knows there is a real dispute about who owns a minority interest, distributing sale proceeds…

What can I do if a bank only provides partial statements for a deceased account holder’s accounts? nc

What can I do if a bank only provides partial statements for a deceased account holder’s accounts? – North Carolina Short Answer In North Carolina, the personal representative (executor/administrator) generally has authority to collect the decedent’s financial records needed to administer the estate. If a bank sends only partial statements, the usual next steps are…